Product Innovation

Imagine… Create …. Impact!

TRENDS

For product innovators, the stakes have never been higher. As it is, 90 percent of product launches fail to meet essential milestones, such as reaching sales forecasts or driving sales volume. Meanwhile, Forrester predicts that firms across all industries will face a 25 to 50 percent increase in revenue risk as more customers switch brands more frequently, searching far and wide for better products, services and software. (source)

Overview

Data is changing the Product game. Customers must manage the lifecycle of multiple types of products simultaneously. Real-time insight is needed to innovate for new feature design and development, changes in product bundling, or new products altogether.

Impact areas

Business Model Innovation

Accelerate growth in shortening business model cycles by breakthrough innovations in product and service value creation for discovering new markets and business opportunities

Revenue Opportunities

Increase revenue opportunities through better bundling strategies based on competitive data from customers and product demand from the market, for better promotion and pricing

ProductQuality

Gain Greater visibility into product quality and relevance through customer service, product reviews, and sales data through business apps and various external consumer forums.

Lifecycle Management

Better manage end-to-end product lifecycle with the ability to identify product improvements, incremental changes, and major enhancements to products